A sample survey of 54 discount brokers showed that the mean price charged for a trade of

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100 shares at $50 per share was $33.77 (AAII Journal, February 2006). The survey is conducted annually. With the historical data available, assume a known population standard deviation of $15.

a. Using the sample data, what is the margin of error associated with a 95% confidence interval?

b. Develop a 95% confidence interval for the mean price charged by discount brokers for a trade of 100 shares at $50 per share.

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Essentials Of Statistics For Business And Economics

ISBN: 9781305081598

7th Edition

Authors: David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam

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Question Posted: Feb 16, 2015 02:03 AM

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A sample survey of 54 discount brokers showed that the mean price charged for a trade of

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Essentials Of Statistics For Business And Economics

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